Financial Services
Icra Limited (icra) Q4 FY26: Revenue Up 28.4%, PBT at ₹72.8 Cr
ICRA Limited announced its Q4 FY26 results with a 28.4% revenue increase and a PBT of ₹72.8 crore, marking a strong performance.
ICRA Limited announced its results for the fourth quarter and year ended March 31, 2026, on May 21, 2026. The consolidated revenue from operations increased 28.4% to ₹174.9 crore for the fourth quarter ended March 31, 2026, compared to ₹136.2 crore in the corresponding quarter of the previous year. Profit before exceptional items and tax (PBT) for the quarter stood at ₹72.8 crore. For the year ended March 31, 2026, consolidated revenue from operations increased 20.4% to ₹599.5 crore compared to ₹498.0 crore in the corresponding previous year. The PBT for the year increased 10.0% to ₹257.4 crore from ₹234.0 crore in the corresponding previous year.
Acquisition Impact
The consolidated financial performance for the quarter and the year includes the impact of the acquisition of Fintellix India Private Limited, including the amortisation of acquisition-related intangibles. During the year, the company recognized a one-time exceptional charge arising from the implementation of the new Labour Codes, primarily relating to gratuity and leave-related provisions. This non-recurring charge has been presented under ‘Exceptional Items’ and is excluded from the PBT reported above for better comparability.
Dividend Announcement
The Board of Directors has recommended a final dividend of ₹105 per equity share (face value ₹10 each) for the financial year ended March 31, 2026, including a special dividend of ₹35 per equity share to commemorate the company’s 35th year of operations. This compares with a dividend of ₹60 per equity share declared in the previous year. The total dividend pay-out for the year amounts to ₹101.3 crore, including the special dividend component of ₹33.8 crore, as against ₹57.9 crore in the previous year.
Commenting on the results, Mr. Ramnath Krishnan, MD & Group CEO, ICRA Limited, said: ‘ICRA delivered a strong quarterly performance, with steady momentum in Ratings and robust growth in Research & Analytics. The acquisition of Fintellix has strengthened our product-led risk analytics and regulatory solution capabilities, enabling more integrated offerings for financial institutions. We remain focused on disciplined execution and sustained investments in analytics and technology to support long-term value creation.’ The company expects India’s GDP growth to moderate to 6.2% in FY2027 from the projected 7.5% in FY2026, with risks tilted to the downside.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of ICRA Limited
ICRA Limited belongs to the Financial Services › Financial Data & Stock Exchanges sector. Here’s a quick read on where the business and the stock stand today.
ICRA trades in the lower quarter of its 52-week range. Industry-leading margins of 32.9% reflect exceptional pricing power and operational efficiency. Not a single revenue dip or loss quarter in five years — this is a business built to last through cycles. The stock gains 0.5% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 13.5% and profits at 14.8%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of ICRA Limited.
Banks - Regional
Punjab & Sind Bank (PSB) Q2 FY27: Net Profit Up 39.66%, Operating Profit Grows 22.38%
Punjab & Sind Bank (PSB) reports a 39.66% YoY net profit growth and a 22.38% increase in operating profit for Q2 FY27.
Punjab & Sind Bank (PSB) has announced its financial results for the quarter and half year ended 30th September 2026, showcasing robust growth across multiple metrics. The bank’s net profit surged by 39.66% on a year-on-year basis, rising from ₹295 crore to ₹412 crore. Moreover, the operating profit grew by 22.38% from ₹505 crore to ₹618 crore.
Quarter-on-Quarter Performance
On a quarter-on-quarter basis, PSB’s net profit increased by 24.47% from ₹331 crore to ₹412 crore. Similarly, the operating profit grew by 13.39% from ₹545 crore to ₹618 crore. These figures highlight the bank’s strong performance in the current fiscal quarter.
Key Financial Metrics
Several key financial metrics also saw significant improvements. The Return on Assets (RoA) improved by 16 basis points (bps) from 0.72% to 0.88% on a year-on-year basis. The Net Interest Margin (NIM) increased by 17 bps from 2.60% to 2.77%. Furthermore, the bank’s business per branch improved from ₹148.77 crore to ₹164.20 crore, reflecting enhanced operational efficiency.
As a result, the Return on Equity (RoE) improved by 280 bps from 10.41% to 13.21%, indicating better profitability for shareholders. The Cost to Income ratio reduced by 268 bps from 61.87% to 59.19%, showcasing better cost management. The Provision Coverage Ratio increased by 60 bps from 91.88% to 92.48%, ensuring robust risk management.
Looking ahead, Punjab & Sind Bank is poised for continued growth and improved financial performance in the upcoming quarters.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Punjab & Sind Bank
Punjab & Sind Bank belongs to the Financial Services › Banks – Regional sector. Here’s a quick read on where the business and the stock stand today.
Punjab falls 14.1% over three months and has not found a floor yet. The PEG stands at 54.50 — severely stretched. Any earnings miss could trigger a sharp de-rating. Industry-leading margins of 28.5% reflect exceptional pricing power and operational efficiency. The stock sits at 7% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at 13.2% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Punjab & Sind Bank.
Capital Markets
Master Trust Limited (mastertr) Announces Launch of Clearing & Settlement Services by Subsidiary Mastercapitalserviceslimited
Master Trust Limited (MASTERTR) announces MasterCapitalServicesLimited’s commencement of clearing & settlement services in F&O segment.
Master Trust Limited (MASTERTR) has announced that its wholly-owned subsidiary, MasterCapitalServicesLimited (MCSL), has commenced clearing & settlement services as a Clearing Member effective October 15, 2026. The services cover trades executed in the Futures and Options (F&O) segment of NSE and BSE through a Custodian Participant (CP) Code.
Key Highlights
MCSL’s new services provide several benefits including a single collateral pool, no need for separate collateral for each trading account, consolidated positions and margin, and trading continuity. These features aim to offer clients greater capital efficiency, convenience, and trading continuity in the F&O segment.
About Master Trust Limited
Master Trust Limited is a diversified financial services company with over 41+ years of experience, offering a comprehensive suite of trading, investment, wealth management, and financial solutions. The company has evolved into a trusted financial services platform with a strong presence across capital markets, serving retail, HNI, corporate, and institutional clients through technology-driven and research-backed offerings.
Master Trust Limited aims to deepen its digital capabilities, expand its customer base and product offerings, and strengthen its integrated financial services ecosystem. With a focus on technology, innovation, research-driven advisory, and nationwide expansion, the company is well-positioned to capitalize on the growing demand for comprehensive financial solutions while creating long-term value for its stakeholders.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Master Trust Limited
Master Trust Limited belongs to the Financial Services › Capital Markets sector. Here’s a quick read on where the business and the stock stand today.
Master moves sideways over three months, with neither buyers nor sellers taking control. The PEG of 0.30 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Industry-leading margins of 25.0% reflect exceptional pricing power and operational efficiency. The stock holds at 31% of its 52-week range with RSI at 42. In other words, neither side has a clear edge right now. Revenue grows at 17.5% and profits at 24.1% CAGR, with D/E of 0.00. Meanwhile, the stock dips 6.0% in three months without any fundamental deterioration. Consequently, the stock quietly becomes cheaper relative to earnings power. For long-term investors, that is a feature. Check Fundamentals of Master Trust Limited.
Banks - Regional
Icici Bank Limited (icicibank) Q2-2027 Performance Review: Profit Surges 20% Yoy
ICICI Bank Limited (ICICIBANK) reports a 20% YoY profit surge in Q2-2027, driven by robust growth in core operating profit and loan expansion.
ICICI Bank Limited (NSE: ICICIBANK) has unveiled its performance review for Q2-2027, marking a significant 20.1% year-on-year increase in profit after tax to ₹148.43 billion. The focus keyword, ‘ICICI Bank Limited ICICIBANK Q2-2027 Results,’ encapsulates the essence of this financial milestone. The bank’s core operating profit grew by 21.8% year-on-year and 2.8% quarter-on-quarter to ₹208.05 billion, reflecting a strong operational performance.
Robust Profit Growth
The profit surge is attributed to a 23.4% year-on-year and 5.2% quarter-on-quarter growth in profit before tax, excluding treasury, reaching ₹199.54 billion. This robust performance underscores the bank’s effective management of costs and its ability to generate substantial earnings from its core banking activities.
Asset Quality and Capital Adequacy
ICICI Bank’s asset quality remains strong, with the net non-performing asset (NPA) ratio declining to 0.30% at September 30, 2026, from 0.35% at June 30, 2026. The bank’s total capital adequacy ratio stood at 16.68%, ensuring a healthy capital base to support its growth initiatives. The common equity tier 1 ratio also remained robust at 16.01%.
Loan and Deposit Growth
The bank’s loan portfolio expanded by 30.0% year-on-year and 12.3% quarter-on-quarter, driven by robust growth in retail and rural loans, as well as business and domestic corporate banking portfolios. Total deposits grew by 27.1% year-on-year and 11.8% quarter-on-quarter, highlighting the bank’s ability to attract and retain customer deposits.
As ICICI Bank Limited (ICICIBANK) continues to navigate the evolving financial landscape, its strategic initiatives and operational excellence position it well for sustained growth and profitability in the future.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of ICICI Bank Limited
ICICI Bank Limited belongs to the Financial Services › Banks – Regional sector. Here’s a quick read on where the business and the stock stand today.
ICICI holds in the upper half of its 52-week range, a sign the market backs the stock. Industry-leading margins of 27.5% reflect exceptional pricing power and operational efficiency. The business compounds revenue at 18.1% and profits at 16.8% CAGR. That is strong double-digit growth on both counts. The stock gains 2.8% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 18.1% and profits at 16.8%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of ICICI Bank Limited.
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